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Accounting Years

Discussion in 'Finances and Fundraising' started by caroline68, Dec 23, 2017.

  1. caroline68

    caroline68 Regular (50+ posts)

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    Just wondering how your accounting years run and is there a Girlguiding rule or is it just up to districts, divisions or whatever?
    I am just coming to the end of my second full year of Rainbow accounts, I am told I have to run accounts for a calendar year. However, it would be so much easier to run from Sept 1st to Aug 31st. At present I am struggling to get cheques signed and paid in and accounts sorted with all the rush of Christmas going on. I have money in for panto and such like, but not paid out yet, things seem to run over at this time of year.
    The long summer holidays plus not meeting first and last week of the term means I'd have 8 weeks to tidy everything up and prepare accounts for checking.
    What do others do?
     
  2. Tawnyowl51

    Tawnyowl51 Veteran (100+ posts)

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    Mine runs september to end august, in reality to the end of july, which allows time for them to be auditted while nothing or very little is happening financially. It works well for me, but I know others who do april to mach like the tax year and january to december. If you want to change the timing, simply submit them in the summer for the previous months then start again in september
     
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  3. Kochanski

    Kochanski Veteran (100+ posts)

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    The only thing you *have* to do us keep accounts (well, and get them checked by an independent person and send your D.C. a summary). Your year is up to you.
     
  4. Tregi

    Tregi Veteran (100+ posts)

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    The only thing to check is when you need to give them to whoever checks them. No reason not to, but polite to let them know you will be changing your year start.

    Sent from my SM-G850F using Tapatalk
     
  5. caroline68

    caroline68 Regular (50+ posts)

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    It seems to be a district rule then! Thanks for all your replies, I shall bring it up at our next district meeting!
     
  6. fenris

    fenris fenris GuiderPlus

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    Usually decided at County level, and it varies from County to County. For instance, in my area books are closed off at the end of June, which for us is at the end of summer term - means they can be done over the summer holidays when most units don't need access to them.
     
  7. Tregi

    Tregi Veteran (100+ posts)

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    County's may advise this, but it is not a rule. The only rule is that they must be checked once a year. How each unit works out its year is up to the unit leader, making sure the district commissioner knows when and the person doing the verifying agree.

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  8. fenris

    fenris fenris GuiderPlus

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    In theory, yes. But we have to bear in mind that the laws on accounts vary around the UK, which can have implications if accounting years don't match within a County.
     
  9. mogs79

    mogs79 Veteran (100+ posts)

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    Ours run January to December, but it seems everyone else in our Division/District runs with the academic year. If that's what suits you and it's okay with your auditor change. There is enough stress at this time of year without adding accounts into the muddle.
     

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